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PMP > 1st > Flashcards

1st Flashcards

0
Q

How many process groups in PMI?

Name them.

A

5 processes:

Initiating
Planning
Executing
Monitoring & controlling
Closing
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1
Q

Name PMP knowledge areas.

A
  1. Integration
  2. Scope
  3. Time
  4. Cost
  5. Quality
  6. Human Resources
  7. Communications
  8. Risks
  9. Procurement
  10. Stakeholder
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2
Q

Which PM process group encompasses all other processes?

A

Monitoring & controlling.

PMBOK pg 47

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3
Q

Name organizational structures that are considered by PMI

A

3:

Functional
Matrix
Projectize

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4
Q

Which organizational structures are considered by PMI to be the best and the worst out:

Functional
Matrix
Projectized

A

Best: projectized due to focus on PM. PM own the resources.

Worst: functional due to focus on functional manager. Resources own by FM not PM

Matrix balanced = PM borrow resources from FM but balanced authority.

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5
Q

Project vs operational work. What is the diff?

A

Project:
Finite duration
Temporary
Terminates

Vs

Ops:
Ongoing
Produce repetitive products/services/results
Does not terminate when current obj are met.

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6
Q

What is the definition of stakeholders?

A

Persons or organizations who are actively involved in the project or whose interest may be positively or negatively affected by the project.

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7
Q

What type of team composition often appear in projectized organizations?

A

Dedicated.

Full time project team members.

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8
Q

What type of team composition usually appear in functional organizations?

A

Part time.
Shared resources.
Have other responsibilities outside the project.

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9
Q

What is the purpose of project charter?

A

Formally authorize PM’s authority and project objectives.

Provide the project with a defined start and establishes boundaries.

Formalize commitment from management.

Project DOES NOT exist until charter is created.

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10
Q

When does a project charter produced?

A

At the very beginning of the Project lifecycle before any substantial planning.

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11
Q

What is Project statement of work (SOW)?

A 
Formal doc describing 
activities
deliverables
Timescale
For the performance of specified project work.
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12
Q

Who should provide SOW for internal projects?

A

Project sponsor.

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13
Q

Who should provide SOW for external project?

A

Customer (user who will use project’s product or service or result) to provide as part of an agreement (contract) or procurement documents.

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14
Q

What is a project sponsor?

A

Person or group who provide financial resources for a project.

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15
Q

What is the role of portfolio managers?

A

High level governance of a collection of projects or programs, which may or may not interdependent.

16
Q

What is the role of program managers?

A

Managing projects in coordinated way to obtain benefits and control not available from managing them individually.

17
Q

Name examples of inputs to business case for a project?

A
  1. Cost benefit analysis (CBA)
    Justify why the project fcasted cost and time will be worth the investment.

e.g Benefit cost ratio (BCR)
Benefit/cost
High BCR = good.

  1. Project selection method (PSM)
    E.g
    Opp cost = low is better

Payback period = low is better

ROI = (net income - cost) / cost = high is better

ROIC = net income from proj / total capital investment = bigger is better

EVA = net op profit after tax - cost of capital = bigger is better

IRR= bigger is better

PV= bigger is better

NPV = bigger is better

DCF = bigger is better

18
Q

What is EEF enterprise environmental factor?

A

Laws, regulations, company values, existing infrastructure

Always an input to the project process.

19
Q

What is an OPA organizational process assets?

A

Historical info, lesson learned, company process & procedures.

Always an input to the process.

20
Q

Give example of Tools & tech for the initiation process group?

A

Expert judgement

Facilitation technique - brainstorming, conflict resolution, problem solving and meeting management.

21
Q

Give example of output for initiation process group.

A

Project charter.

22
Q

Give example of output to planning process.

A

Project Management Plan.

23
Q

How many project management plan contents are there?

A

9-4-3

9 management plans - one for each knowledge areas except for integration.

4 other areas plan: change, config, requirement management plan and process improvement plan.

3 baselines = scope, schedule, cost

24
Q

What are the examples of tools & tech for direct & managing (executing) project work?

A

Meeting
Expert judgement
Project management info sys, e.g scheduling software tool, document control, web interface etc

25
Q

What needs to be updated when change request is approved?

A

All knowledge areas management plans

All baselines

Requirement management plan and process improvement plan.

26
Q

Triple constraints of the project?

A

Time
Cost
Scope

PMP (15 decks)

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